Risk Manager
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Risk Manager
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
The risk manager controls and limits the overall loss for the account, and the loss for every deal.
It includes Trailing Stop for the account. When exceeding the preset values (in %) the open positions are closed by market orders. All pending orders are removed.
A balance check is performed once a day when the date changes. It uses the trade server time, i. e. the time of the last quote.
The EA has been tested on a real account for FORTS derivatives market and on a demo account MetaQuotes-Demo for FOREX.
Expert Advisor parameters:
Day Risk % - maximum percentage of loss for a day.
Deal Risk % - maximum percentage of loss for every deal. Zero value disables this function.
Trailing Stop % - trailing stop percentage for a day profit.
